Mirs Mileage Rate 2024 Electric Vehicle. If you drive an electric vehicle versus a traditional combustion engine, you do qualify for the mileage deduction as long as contemporaneous records are kept. For the same 1,000 business miles, using the irs rate, the reimbursement would be $670.

The irs has set the rate at 67 cents per business mile, an increase of 1.5 cents. At the end of last year, the internal revenue service published the new mileage rates for 2024.